Market Update

Yesterday the S&P 500 climbed to within 3 points of the peak reached on the 7th of March. However, profit taking by investors in stocks that had led the S&P 500 bull market extended recent declines in US Stocks. This is probably a continuation of the past few days, with investors selling winners.

Meanwhile the maker of ‘Candy Crush’ King Digital Entertainment Plc tumbled 16% raising concerns that the rally in internet companies has once more gone too far. Citigroup, US units of Royal Bank of Scotland Group Plc, HSBC Holdings Plc and Banco Santander SA, failed Federal Reserve stress tests. Bank of America appears to be one of the winners out of these stress tests as it won approval for its first dividend increase since the financial crisis.

Early this morning information-technology companies retreated across Asia following the performance on King Digital entertainment. China reported industrial-profit growth slowed to 9.4% year to date as market rates increase most since the start of the year.

European stocks dropped following warnings by US President Barak Obama that complacency on the situation in Crimea ignores lessons learned in the 2 world wars. Obama vowed to increase Russia’s economic and political isolation if Russia does not alter course soon. Later today US jobless-claims and economic growth data will provide catalysts for market movements.

The Calamatta Cuschieri Traders Blog is available daily on CC WebTrader. Other market coverage including coverage of the International Bond Markets is also available.

Important(Notices) The information provided on this website is being provided solely for educational and informational purposes and should not be construed as investment advice, advice concerning particular investments or investment decisions, or tax or legal advice. Similarly any views or opinions expressed on this website are not intended and should not be construed as being investment, tax or legal advice or recommendations. Investment advice should always be based on the particular circumstances of the person to whom it is directed, which circumstances have not been taken into consideration by the persons expressing the views or opinions appearing on this website. Calamatta Cuschieri & Co. Ltd. (CC) has not verified and consequently neither warrants the accuracy nor the veracity of any information, views or opinions appearing on this website. You should always take professional investment advice in connection with, or independently research and verify, any information that you find or views or opinions which you read on our website and wish to rely upon, whether for the purpose of making an investment decision or otherwise. CC does not accept liability for losses suffered by persons as a result of information, views or opinions appearing on this website.This website is owned and operated by Calamatta Cuschieri & Co. Ltd (Co. Reg. No. C13729) of 5th Floor, Valletta Buildings, South Street, Valletta VLT 1103, Malta. CC is licensed to conduct Investment Services in Malta by the Malta Financial Services Authority.